Wema
Bank, the pioneer of Nigeria’s first fully digital bank ALAT, has opened a new
branch in Aba, Abia State, in line with its strategic expansion plan following
a national licence granted the bank by the Central Bank of Nigeria in 2015. The
new branch offers the Bank the opportunity to strategically target the Eastern
market via one of the region’s top commercial nerve centers.Aba
is the commercial capital of Abia state and one of the leading industrial
cities in Eastern Nigeria. It plays host a large number of international and
local traders as well as lucrative small businesses and manufacturing
establishments and sits strategically in the middle of the Eastern region.The
new branch will look to attract a significant share of this market segment as
well as individuals and businesses from neighboring cities within the region by
offering a comprehensive range of banking services including deposits and
loans, trade services, and payment, as well as cash management solutions. The
branch also promises to offer customers the latest in banking technology
through alternative channels offered by Wema
Bank.Wema
Bank has also provided alternative channels to ensure those who are too busy to
walk into the new branch can still bank with Wema using their electronic
devices.“Aba
offers Wema Bank a strategic platform on which to grow our business in East,”
Wole Akinleye, an Executive Director, South Bank at Wema Bank said during the
official opening ceremony. “We are committed to building a robust business
offers the right mix of branch networks and digital channels which caters to
all demographics within our target markets.”One
of these digital offerings is ALAT, the first fully digital bank in Nigeria.
ALAT is a branchless, paperless bank which provides financial services through
its Android, iOS and web applications. It was designed in response to the
growing needs of Nigerians for a financial institution that understands their
needs, responds quickly to them and helps them save money. It allows customers
to open a fully-functional account, including completing KYC requirements
directly from a mobile phone. Once signed up, customers can request for their
ALAT debit card, which will be delivered for free to a location of choice. ALAT
offers customers 10% interest on their savings and allows them save together as
a group, mimicking the local Esusu and AjỌschemes. International purchase can also be done without a physical
debit card using the ALAT virtual dollar card.ALAT,
has been well-received since its launch in May 2017, with over 200,000 accounts
opened and over N1.1 billion in deposits as at February 2018.Beyond
ALAT, the bank continues to champion innovation and leverage technology in
breaking barriers plaguing conventional banking. It pioneered the use of card
control in Nigeria, an in-app tool that allows customers lock their payment
cards from a mobile device. It also formed part of the pilot banks to
successfully deploy M-cash, a mobile service that allows merchants receive
payments by dialing a simply code. The Bank continues to improve on its *945#
USSD Banking service and enhance its online and mobile banking apps to ensure
it offers a seamless service across all its banking channels.“ALAT
is available for download on Google Play Store and Apple Store, while *945#
works on all kinds of mobile phones,” said Funmilayo Falola, the Head of Brand
and Marketing Communications at Wema Bank. In addition, the new branch is
located at 103 Azikiwe Road, Aba, Abia State and is now open to customers.Related News